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Libya is signaling renewed momentum in its energy sector after announcing three fresh oil and gas discoveries in partnership with major international firms. The National Oil Corporation confirmed finds in the Ghadames and Murzuq basins, as well as offshore fields, working alongside Algeria’s Sonatrach, Italy’s Eni, and Spain’s Repsol. Initial tests show promising output, including millions of cubic feet of gas daily and hundreds of barrels of condensates and crude. These discoveries come at a crucial time for Libya, whose economy depends on oil for over 95% of its revenue. As a result, the new finds could boost production capacity, attract further investment, and strengthen the country’s position in global energy markets.
Reuters